regulate polluting firms under asymmetric information of both their abatement costs and carbon leakage risk, which I model as … and relocation costs. The optimal policy is less strict than first-best whenever this affiliation is negative or mildly …

This paper discusses the externalities and market failures in cryptocurrency markets. In particular, I highlight the … significant environmental externalities created by Proof-of-Work (PoW) cryptocurrencies, the most prominent of which is Bitcoin …. The main goals of this paper are to quantify these externalities, illustrate the mechanisms by which they arise, and …

regulation. We illustrate our results in applications to financial regulation with environmental externalities, shadow banking …

idiosyncratic shocks, imposing negative externalities on unrelated firms in CLO portfolios. Following a negative shock to the oil …